(205 ILCS 620/5-10) (from Ch. 17, par. 1555-10)
Sec. 5-10. Fees; receivership account.
(a) There shall be paid to the Commissioner by every corporate
fiduciary including each trust company, bank, savings and loan association,
and savings bank to which this Act
shall apply, reasonable
fees that the Commissioner shall assess to recover the costs of administration,
certification, examination and supervision of trusts
authorized under this Act.
(b) In addition to the fees authorized in
subsection (a) of this
Section the Commissioner shall assess reasonable receivership fees and
establish a Non-insured Institutions Receivership account in the Bank
and Trust Company Fund to provide for the expenses that arise from the
administration of the receivership of a corporate fiduciary under this Act.
The aggregate of such assessments shall be paid into the Non-insured Institutions Receivership
account in the Bank and Trust Company Fund. The assessments for this
account shall be levied until the sum of $4,000,000 has been
deposited into
the account from assessments authorized herein, whereupon the Non-insured Institutions Receivership
account assessment shall be abated. If a receivership of a corporate
fiduciary under this Act requires expenditures from this account,
assessments may be reinstituted until the balance in the Non-insured Institutions Receivership
account arising from assessments is restored to $4,000,000.
(c) The Commissioner
may, by rule, establish a reasonable manner of assessing the receivership
assessments under this Section.
(Source: P.A. 96-1365, eff. 7-28-10.)
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